The bitcoin (BTC) and cryptocurrency exchange Kraken confidentially filed a draft S-1 registration statement with the United States Securities and Exchange Commission (SEC), with the aim of carrying out an initial public offering to go public.
Kraken’s filing does not include details about the timing, number of shares, or price of the offering. SEC review will determine next step, explained the company.
This movement of the exchange responds to a recent collection of 800 million of dollars in two tranches over the last two months. Kraken subsequently formalized an agreement for a $200 million strategic investment from Citadel Securities, raising its valuation to $20 billion.
Founded in 2011, Kraken allows its clients to trade more than 450 digital assets, as well as traditional instruments such as US futures, stocks, US exchange-traded funds (ETFs), and fiat currencies.
The application is submitted at a time when Companies in the digital asset sector seek to integrate into Wall Street markets. As reported by CriptoNoticias, last June, Circle, the issuer of the USDC stablecoin, debuted on the stock market and the Gemini exchange began trading in September. Meanwhile, Grayscale, the bitcoin (BTC) and ether (ETH) exchange-traded fund manager, solicitous formally listed on the New York Stock Exchange earlier this month.
Under the administration of US President Donald Trump, the list of digital asset companies seeking to access US capital markets has grown, driven by policies favorable to the sector. This more permissive regulatory environment accelerates the convergence between the digital asset industry and traditional finance, which could attract greater institutional investment in the future.